Prepare a Demand Forecast for “Year 5” using Excel.
Q: Given the following data, use exponential smoothing(a = 0.2) to develop a demand forecast. Assume…
A: Given data Exponential smoothing (a) or α= 0.2 Initial time period (F1) = 5 To develop the demand…
Q: Find the monthly forecast and seasonal indices for year 2021, given the following data:
A: Seasonal factors will be determined for each month of each year in this problem, and the average of…
Q: 1. Using a two-month moving average, what are the expected sales for June? 2. Using a…
A: Forecasting is the process of prediction in which sales demand is estimated using historic…
Q: 2 - 118
A: Period Data 1 123 2 118 3 109 4 112 5 100 6 110 7 124
Q: Using exponential smoothing method, forecast the demand for the fourth period. The historical demand…
A: Exponential smoothening is a time series forecasting method that uses the previous data to forecast…
Q: TWO LAST THIS YEARS AGO UNITS YEAR UNITS 3,495 2,696 3,475 2,375 YEAR UNITS I 4,785 3,475 4,195…
A: Decomposition is a determining procedure that isolates or deteriorates verifiable information into…
Q: Given the following history, use a three-quarter moving average to forecast the demand for the third…
A: Solution Moving average considers the average of the past data. The average can be of three periods…
Q: Given the following demand data,a. Compute a weighted average forecast using a weight of .40 for the…
A: 4-period weighted average forecast: Formula: Answer:
Q: New Accounts Period New Accounts Period 200 6 232 11 214 248 12 3 211 250 13 4 228 253 14 235 10 267…
A: Given data is
Q: Cadbury started an in-depth study to forecast customer demand based on data it previously recorded.…
A: The given question is solved in Step 2.
Q: Which would result in a positive budget forecasting error?
A: Budget forecasting helps in determining the short term as well as long term goals of the company.…
Q: Identify and post the secanrio and rationale of the cultural scenario that is seen as the most…
A: The given case is based on the cultural scenario Cultural scenario - there are a variety of…
Q: Forecast for period 24 using the following three methods: Exponential smoothing with alpha = 0.25;…
A: THE ANSWER IS AS BELOW:
Q: The average demand for January has been 80, and the average annual demandhas been 1800. Calculate…
A: Forecasting in operations management is a process by which predictions are made for the production.…
Q: Developing joint forecasting with supply chain partners offersthe following benefits:a) Reduce…
A: A supply chain is a network between a business and its suppliers to manufacture and sell to the…
Q: What are the potential consequences of inaccurately forecasting the demandfor a particular product?
A: Forecasting is used to predict future changes or demand patterns. It involves different approaches…
Q: Given the following history, use a three-quarter moving average to forecast the demandfor the third…
A: Given information:
Q: Consider the following information: Year Quarter Actual Sales (000) 2018 1 20 2 15…
A: The trend projection method depends with the understanding that the elements obligated for the…
Q: Use regression analysis on deseasonalized demand to forecast demand in Summer of Year 3, given the…
A: given,
Q: Find four years weighted moving average? Forecast for 2019 with weights 1,4,2, ….. , Also find…
A: Given data is
Q: The sales of XYZ company for the previous three periods are 45, 42, and 43 respectively. Estimate…
A: The following is the data provided: Period Data January 45 February 42 March 43 The…
Q: a) The forecasted demand for the week of October 12 using a 3-week moving average = pints (round…
A: Forecasted demand is the future demand of customers predicted based on the previous data or demand.…
Q: Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures: Forecast 100…
A: Let At signify actual cost for tth observation, Ft signify predicted cost for tth observation &…
Q: Period 1 2 3 4 5 6 1. Compute the four period moving average forecast for period 6 and 7. Assume the…
A:
Q: Identify the cultural scenario that is the most credible—that is, the forecast that you see most…
A: The given case is based on cultural scenario Cultural scenario - there are variety of culture…
Q: Using exponential smoothing method, forecast the demand for the fourth period. The historical demand…
A: Alpha=0.9 At Ft Period Demand Forecast 1 41 41 2 42 0.9(41)+0.1(41)=41 3…
Q: Using exponential smoothing method, forecast the demand for the fourth period. The historical demand…
A: Exponential smoothing is a time series method for forecasting to know the demand for the next…
Q: Give examples of industries in which demand forecastingis dependent on the demand for other…
A: Demanding forecasting estimates future demand based on historical data, trends, seasonality, and…
Q: The Nuts’n’Bolts hardware store stocks some high-value items and a large number of rel- atively…
A: Lead time for low value components = 2 weeks Lead time for high value components = 4 weeks To…
Q: Explain what is an accurate forecast?
A: Making is the act of selecting a course of action from a reservoir of thoughts or ideas available to…
Q: Find the MAD and Tracking signal in below table. Do you think this forecast is acceptable? Why? How…
A: Given information- Period Actual demand Forecast 1 220 200 2 300 310 3 400 340 4 340 350…
Q: Sales of tablet computers at Ted Glickman's electronicsstore in Washington, D.C., over the past 10…
A: Given data is
Q: What effect has improved forecasting had on inventory and capital requirements?
A: Forecasting is a strategy in which a company makes preparations based on previous and historical…
Q: Exotic Wines, Inc. wants to use exponential smoothing with α = 0.35 to forecast demand in bottles…
A: The detailed solution of the question is given in Step 2.
Q: A restaurant manager with analyzing records of the last 6 weeks summarizes the daily demand figures…
A: Forecasting can help in predicting the demand for the product in the future. There are various time…
Q: Given the following history, use a three-quarter moving average to forecast the demand for the third…
A: The solution for the above is mentioned in the below excel spreadsheet as follows.
Q: Sales of tablet computers at Ted Glickman’s electron-ics store in Washington, D.C., over the past 10…
A: Formula:
Q: A restaurant manager with analyzing records of the last 6 weeks summarizes the daily demand figures…
A: Forecasting is critical for any business since it helps the organization to make informed business…
Q: With the aid of practical examples demonstrate how qualitative, time-series, and causal forecasts…
A: A Small Introduction to Forecast Demand Request anticipating is the most common way of utilizing…
Q: The historical data for 4 periods demand are 65, 60, 80, and 70 respectively. Calculate the weighted…
A: Period Demand 1 65 2 60 3 80 4 70 WMA (0.4,0.6)
Q: a. Using linear regression analysis, what would you estimate demand to be for each month next year?…
A: THE ANSWER IS AS BELOW:
Q: The manager of XYZ carpet cleaning company needs a weekly forecast of the number of customers…
A: Find the Given details below: Given Details: Demand Year 1 Year 2 Year 3 Week 1 102 114…
Q: Compile a forecast for sales in Q1, Q2, Q3, and Q4 for 2013. Predicted Predicted Sales ($mil) $5.00…
A: Find the Given details below: Given details: Year Annual Period Quarter Period Sales ($ mil)…
Q: Let's say you are playing the stock market and below period 2020 data was provided. For "stock A"…
A: The answer is as below
Q: . Give three examples from your life in which you may forecast the future.
A: Forecast : Forecasting is a strategy that uses past data as input to make informed predictions…
Q: P2. Over past 4 weeks, KAMM (Kuwait Arab Malls Monitor) reported a severe decline in French products…
A: Given data is
Q: Cadbury started an in-depth study to forecast customer demand based on data it previously recorded.…
A: Forecasting is a technique to understand and predict the future outcomes or demand based on the…
Prepare a Demand
| Quarterly Data for Cars Sales | ||
| Yt | ||
| Year | Quarter | Sales (1000s) |
| Year 1 | 1 | 4.80 |
| 2 | 4.10 | |
| 3 | 6.00 | |
| 4 | 6.50 | |
| Year 2 | 1 | 5.80 |
| 2 | 5.20 | |
| 3 | 6.80 | |
| 4 | 7.40 | |
| Year 3 | 1 | 6.00 |
| 2 | 5.60 | |
| 3 | 7.50 | |
| 4 | 7.80 | |
| Year 4 | 1 | 6.30 |
| 2 | 5.90 | |
| 3 | 8.00 | |
| 4 | 8.40 | |
| Year 5 | 1 | |
| 2 | ||
| 3 | ||
| 4 |
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. Ethical decisions that affect a buyers ethical perspective usually involve the organizational environment, cultural environment, personal environment, and industry environment. Analyze this scenario using these four variables.
- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?Case Study 1: The AusCandy Demand The following table shows the historical demand data for product A in AusCandy Co. Answer the following questions. Period Actual demand Period Actual demand 1 25 13 24 2 21 14 26 3 11 15 38 4 12 16 30 5 14 17 23 6 18 18 40 7 32 19 41 8 23 20 32 9 25 21 44 10 20 22 41 11 26 23 28 12 29 Forecast for period 24 using the following three methods: Exponential smoothing with alpha = 0.25; Moving average with n= 5; and Linear trend Using MAPE, what is the best forecast method in Part a?
- Given the following history, use a three-quarter moving average to forecast the demand for the third quarter of this year. Note that the 1st quarter is Jan, Feb, and Mar; 2nd quarter Apr, May, Jun; 3rd quarter Jul, Aug, Sep; and 4th quarter Oct, Nov, Dec. (Round final answer to a whole number.) JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Last year 165 185 200 230 240 265 210 200 195 265 290 315 This year 175 200 165 260 260 200 Forecast for the third quarterHistorical demand for a product is as follows: DEMAND April 75 May 60 June 90 July 75 August 95 September 88 Using a simple four-month moving average, calculate a forecast for October. Note: Round your answer to 2 decimal places. Using single exponential smoothing with α = 0.10 and a September forecast = 80, calculate a forecast for October. Note: Round your answer to 2 decimal places.Assume the weight is 0.6 for the most recent period; 0.2 for the second most recent; 0.1 for the third most recent; and 0.1 for the fourth most recent period. Using the four-period weighted moving average technique to predict the demand in February 2019. Find the X and Y values. Dt Ft Period Demand Four-period weighted Moving Average 2014 September 9400 October 10300 November 11200 December 4998 2015 January 9800 7209 February 9555 X March 9800 Y Group of answer choices X = 9899.8; Y = 9778.2 X = 9312.8; Y = 9555.2 X = 9029.6; Y = 9312.8 X = 9555.0; Y = 9313.7 X = 9872.4; Y = 9029.4
- Historical demand for a product is: DEMAND January 13 February 10 March 14 April 13 May 15 June 14 a. Using a weighted moving average with weights of 0.40 (June), 0.20 (May), and 0.40 (April), find the July forecast. (Round your answer to 1 decimal place.) b. Using a simple three-month moving average, find the July forecast. (Round your answer to 1 decimal place.) c. Using single exponential smoothing with α = 0.20 and a June forecast = 12, find the July forecast. (Round your answer to 1 decimal place.) d. Using simple linear regression analysis, calculate the regression equation for the preceding demand data. (Do not round intermediate calculations. Round your intercept value to 1 decimal place and slope value to 2 decimal places.) e. Using the regression equation in d, calculate the forecast for July. (Do not round intermediate calculations. Round your answer to 1 decimal place.)Use regression analysis on deseasonalized demand to forecast demand in Summer of Year 3, given the following historical demand data: Year Season Actual Demand 1 Spring 205 Summer 140 Fall 375 Winter 575 2 Spring 475 Summer 275 Fall 685 Winter 965P2. Over past 4 weeks, KAMM (Kuwait Arab Malls Monitor) reported a severe decline in French products consumption -- in Millions of items: 400M, 300M, 50M, 1M. KAMM need to know expected forecast next week.
